Hecla Acquires Interest in Canamex Resources Corp.

November 19, 2012 10:00 AM Eastern Daylight Time

COEUR D’ALENE, Idaho--(BUSINESS WIRE)--Hecla Mining Company (NYSE:HL)
announced today that a wholly owned Canadian subsidiary of Hecla has
entered into a subscription agreement to acquire 14,000,000 common
shares of Canamex Resources Corp. (“Canamex”). Subject to receipt
of approval by the TSX Venture Exchange, the common shares will be
issued to the wholly owned subsidiary of Hecla from treasury at a price
of $0.18 per common share for total gross proceeds to Canamex of
$2,520,000. Upon completion of the transactions contemplated by the
subscription agreement (the “Proposed Transaction”), the
14,000,000 common shares will represent and Hecla will exercise control
over approximately 15% of the outstanding common shares of Canamex. In
addition, Hecla will have the right to appoint one representative to the
Board of Directors of Canamex and will be providing technical assistance
to Canamex. Hecla will also have the right to participate in future
equity offerings of Canamex in order to maintain Hecla's pro-rata equity
interest in Canamex.

“This is
one of many strategic investments in junior mining companies with strong
management and outstanding exploration land packages that Hecla is
contemplating as we seek to expand our exposure to under-explored
silver-gold mining districts in the Americas.”

Canamex is a Canadian-based resource exploration company currently
focused on the exploration of two gold properties, the Bruner gold
project (the “Bruner Project”) located in Nye County, Nevada and
the Aranka North gold project located in Guyana.

“Hecla is pleased to be able to make a strategic investment in Canamex
to participate in the re-emergence of a historic Nevada gold district
with outstanding exploration and development potential,” said Hecla's
President and Chief Executive Officer Phillips S. Baker, Jr. “This is
one of many strategic investments in junior mining companies with strong
management and outstanding exploration land packages that Hecla is
contemplating as we seek to expand our exposure to under-explored
silver-gold mining districts in the Americas.”

The Proposed Transaction is subject to certain conditions, including the
approval of the TSX Venture Exchange.

The common shares will be acquired for investment purposes by Hecla.
Hecla does not have any present intention to acquire ownership of, or
control over, additional securities of Canamex. It is the intention of
Hecla to evaluate its investment in Canamex on a continuing basis and
such holdings may be increased or decreased in the future. In completing
this investment Hecla is relying on Subsection 2.3(1) of Canadian
National Instrument 45-106 – Prospectus and Registration Exemptions as
Hecla is an accredited investor. For the purposes of Canadian National
Instrument 62-103, the address of Hecla is 6500 N. Mineral Drive, Suite
200, Coeur d’Alene, Idaho, 83815, USA.

About Hecla Mining Company

Established in 1891, Hecla Mining Company is a leading low cash cost
silver producer in the U.S. The company has two operating mines and
exploration properties in four world-class silver mining districts in
the U.S. and Mexico.

Cautionary Statements

Statements made which are not historical facts, such as anticipated
payments, litigation outcome, production, sales of assets, exploration
results and plans, prospects and opportunities including reserves,
resources, and mineralization, costs, and prices or sales performance
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as “may,” “will,”
“should,” “expects,” “intends,” “projects,” “believes,” “estimates,”
“targets,” “anticipates” and similar expressions are used to identify
these forward-looking statements. Forward-looking statements involve a
number of risks and uncertainties that could cause actual results to
differ materially from those projected, anticipated, expected or
implied. These risks and uncertainties include, but are not limited to,
metals price volatility, volatility of metals production and costs,
environmental and litigation risks, operating risks, project development
risks, political and regulatory risks, labor issues, ability to raise
financing and exploration risks and results. Refer to the company's Form
10-K and 10-Q reports for a more detailed discussion of factors that may
impact expected future results. Hecla undertakes no obligation and has
no intention of updating forward-looking statements other than as may be
required by law.

For further information, or to obtain a copy of the early warning report
filed in connection with Hecla’s holdings in Canamex, please contact:

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